The competition offers $20 million in prize funding to innovators who can develop technologies to maximize the value of carbon dioxide emissions from industrial facilities.

Economic Development Minister Deron Bilous says Alberta has always been the place where people turn challenges into opportunities.

He says the technology centre shows how to grow the economy at the same time as protecting the environment.

“We have some of the brightest minds on the planet competing in the NRG COSIA Carbon XPRIZE, working on technologies the world needs to lower emissions,” said Dan Wicklum, chief executive of COSIA.

“The ACCTC will be one of the few places in the world where carbon conversion technologies can be tested at a real-life scale.”

Friday’s announcement was lauded by the Alberta Clean Technology Industry Alliance and the Pembina Institute.

“This the latest piece of good news for Alberta’s clean tech sector,” said Jason Switzer of the alliance. “The combination of the Carbon XPrize, investments by Emissions Reductions Alberta, and now the Alberta Carbon Conversion Technology Centre are helping make the case that our province is a global destination for developing and proving out the technologies that the world needs for a prosperous transition to a low-carbon economy.”

“Establishing plug and play technology sandboxes like the Alberta Carbon Conversion Technology Centre is an excellent way to create partnerships and accelerate our learning with respect to new technologies, in order to develop emissions solutions and create economic opportunities,” said Duncan Kenyon of the Pembina Institute.